Jenna Lyons, Iris Apfel, Pamela Love, and More at the CFDA/Vogue Fashion Fund Party

Last night, J.Crew’s Jenna Lyons hosted a party for the 2011 CFDA/Vogue Fashion Fund Award recipients, which included winner Joseph Altuzarra and runners-up Pamela Love andCreatures of the Wind’s Shane Gabier and Chris Peters. Just as they did last year, all honorees have designed their own collaborative collections with J.Crew, which Lyons says will launch next week. “What’s been amazing is that they all had the same brief and they all did different things,” she said of the three labels. “We gave them the same materials to work with, we gave them the same kind of timeline, the same criteria — and they all did such different things, and in the end it all feels completely individual.” Apparently the collaboration’s concept forced jewelry designer Pamela Love to branch into clothing, which should be exciting to see.

Lyons also talked about her current apartment, which she’s renting while she looks for a new place to buy. “It’s the interior of the original American Express building, were they used to bring the carriages. So I have these huge doors and street entry, which is kind of cool,” she said. She’s looking forward to finding a place of her own, though: “I’m excited to do it again. I really don’t tire of doing interiors.” We also chatted with party guests Iris Apfel, Steven Kolb, Mickey Drexler, and Derek Lam — see more in our slideshow.